Signed Contract needed to get Mortgage Approval???
We have sent our mortgage broker all of the paperwork that was originally requested of us. Our credit and financials are perfect, so we’re not so concerned on the approval. Prior to sending in our paperwork, he was contacting us EVERY day.
Now, after a couple of weeks of waiting, he finally tells us that he needs a copy of the signed contract. He never asked for it when we first applied for the mortgage, so we’re wondering why he needs it now (after being MIA for a bit). He then tells us “a suspense has been issued contingent based on the contract.” Does anyone know what this means? and, does it sound suspicious to you?
We’re going to check with our lawyers, but I want to know if people have any experience with this on this board.
